The Enterprise Development Centre (EDC) of Nigeria’s Pan-Atlantic University along with the Canada-based Mastercard Foundation recently launched the Transforming Nigerian Youths Program to “create a network of entrepreneurial and managerial changemakers particularly…across the micro-, small and medium-sized enterprises sector in Nigeria.” The goal is to provide 40,000 youth and women with the resources to “start, grow and expand their business.” The program will focus on the states of Kaduna, Kano and Lagos, but will be open to all Nigerians.
EDC Deputy Director Peter Bankole said, “We are excited to be part of the Transforming Nigerian Youths program to empower young Nigerians, especially women. It will serve as a catalyst for entrepreneurial reorientation, job creation and sustainable livelihood.” In particular, EDC seeks to leverage this new program to reach small and medium-sized enterprises (SMEs) “in the agricultural and creative sectors of the economy” as well as the marginalized communities in northern Nigeria.
EDC was founded in 2003 to develop partnerships to support SMEs. Its programs include the School Leadership Development program, a training program for school leaders in Nigeria, and Essential Skills Management, a program for SME leaders. As of 2018, Pan-Atlantic University has 1,726 participants enrolled in its degree programmes and a staff of 475.
Established in 2006 with a donation from MasterCard, a US-based financial services corporation, the Mastercard Foundation aims to support young Africans in moving out of poverty via improved “access to education, financial services, and skills training.” The organization works in 26 African countries and is in the process of tightening its focus to just 10 of these. For the year 2018, the organization reports expenditures of USD 298 million and total assets of USD 17.4 billion.
By Nathan Kiplagat, Research Associate
Sources and Additional Resources
Mastercard Foundation news release
https://mastercardfdn.org/40000-young-women-and-men-in-nigeria-will-be-equipped-annually-with-entrepreneurial-skills-through-edc-partnership-with-the-mastercard-foundation/
EDC homepage
https://www.edc.edu.ng
Pan-Atlantic University Annual Report
https://www.pau.edu.ng/wp-content/uploads/2015/08/2018-19-Annual-report-Web.pdf
Mastercard Foundation financials 2018
https://mastercardfdn.org/wp-content/uploads/2019/07/1.-Mastercard-Foundation-Audited-FS-as-of-December-31-2018.pdf
Mastercard Foundation homepage
https://mastercardfdn.org
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